Finding buyers, Harder then i thought

[Jeremy1113]

I just read that you cant quit claim on HUD homes.

"Method #1 – Add to Contract, Then Quit Claim "
"Here are the negatives that come with this method.  A) This does NOT work for HUD properties because HUD does not allow any changes to the parties that are on the original offer"

True or Untrue??

http://www.premierrealestateinvesting.com/how-to-wholesale-bank-owned-reo-foreclosure-properties/

[CharlottePlayer]

Once you find the money you have to find the deals.  You can put out signs, send letters, place ads, knock on doors, and the list goes on.  As long as you have more than one source for your leads then you will be ok.

[bashir]

if so then double close.   don't get so caught up in trying to assign deals that if you cant do a quit claim type transaction then you don't do the deal.

If you can't quit claim, then double close.

Plain and simple

Ask Eric Medemar how he handles his Hud Transactions.  You've got plenty of time to figure out what to do on a Hud house because the closing takes 60 days.

Also with the lower dollar properties Hud only requires $500 earnest money, so you may even be able to put this dollar amount up yourself.

[AlexLock85]

So how do you quit claim yourself off a HUD property??

[Bay Area Brian]

Eric

Not to rain on your parade but I was given the rock-star method by an investor in 1961. So the Mother Goose rhyme of nothing new under the sun appears to hold up.

In 1966 I was doing a deal with attorney co-buyer and he suggested I write the contracts using the "John Smith, et al. Vesting to be determined in escrow" method which would allow me in the future to change the buyers at any time prior to close of escrow.

[idhomebuyer]

Regarding the forclosure or short sale method with a realtor, you can also setup an LLC, contact ot buy the house in the LLC's name, and basically sell the LLC to the end buyer for your assignment fee. That way, the buyer will still be able to buy the house, and you will get paid.

 

finding buyers are harder then i thought it was going to be, realtors ignore my emails i send them about sending me a list of foreclosed housed and handyman specials so i can do the reverse MLS, local newspaper doesnt have any good real estate section. craglist only have a couple buyers but there only buying to assign to other investors.
Getting a assignment done in 45 days is gona be harder then i thought